The Real Test of Europe's Banks Comes This Fall
Lenders face a rough second half as governments unwind the programs that cushioned the initial blow of the coronavirus crisis.
Indian Bank Hit by Third Huge Fraud
One of India's biggest state-run banks said it had fallen victim to its third multimillion-dollar fraud in as many years, a stark illustration of the bad debts and weak defenses against misconduct that plague the country's financial system.
'Stablecoins' Vulnerable to Criminal Abuse, Watchdog Says
A type of digital currency that aims to maintain a stable value relative to that of an underlying asset or benchmark has the potential for mass adoption, but that potential also makes it more vulnerable to criminal abuse, a global standard setter for anti-money-laundering laws said.
Germany Probes Possible Money Laundering by Wirecard Executives
German prosecutors are looking into possible money laundering by executives at Wirecard, adding to probes related to potential fraud and fake accounting at the insolvent payments firm.
Prudential Reprices Some Insurance Products as Lower Rates Weigh on Profits
Prudential Financial planned for a pandemic as severe as the Spanish flu, modeling for a potential crisis that would be more severe than the initial coronavirus outbreak suggested. This prepared the company for some of the financial shocks, such as the difficulty in preserving capital, but not the ultralow interest rates.
State-Owned Punjab National Bank Reports $490.9 Million Fraud
Punjab National Bank said it has been hit by a $490.9 million fraud by one of its customers, the latest in a string of such cases to affect the lender.
Supreme Court to Hear Case on Government Seizure of Fannie, Freddie Profits
The U.S. high court will wade into a yearslong dispute involving the federal takeover of Fannie Mae and Freddie Mac during the financial crisis of 2008, agreeing to review a case examining the government's move to seize the mortgage-finance companies' profits..
Hedge Fund Alden Emerges As Potential McClatchy Bidder
Alden Global Capital has emerged as a potential bidder for McClatchy's newspapers, an acquisition that would add some of the nation's most prominent daily publications to the New York hedge fund's existing collection of local news outlets.
Ackman's Blank-Check IPO Is Latest Stop on His Comeback Tour
Hedge-fund billionaire William Ackman has come roaring back after years of dwindling assets and a self-imposed exile from the spotlight.
U.S. Government Bond Yields Hit Lowest Closing Level Since April 24
U.S. government bond yields fell to a nearly 11-week low Thursday after another well-received bond auction helped ease investors' concerns about the growing supply of Treasurys.
